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Mar 28, 2017
03/17
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CSPAN
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the aca is a set of taxes by itself. tax reform is a set of taxes by itself. they are totally separate. if you do aca first it really doesn't impact your tax reform that much. the: the repeal of taxes on apa had no effect as far as tax reform? guest: correct. there is no interaction between those. they don't necessarily need to be cut as part of tax reform. if republicans think that is something that has to be done than tax reform becomes harder. it's not necessarily the case that they need to. paul ryan has already indicated that when he says obamacare is the law of the land that he is also talking about the taxes that come with that. in my mind i don't think there is any additional budgetary challenge that there is a failure to repeal and replace aca. host: we hear the term revenue neutral. what is that? guest: the concept that when you reform the tax code or change any tax bill that any tax cuts are made up with a base broadening or so the level raised by the federal government is the same going forward. case kevin brady and paul ryan have indicated that th
the aca is a set of taxes by itself. tax reform is a set of taxes by itself. they are totally separate. if you do aca first it really doesn't impact your tax reform that much. the: the repeal of taxes on apa had no effect as far as tax reform? guest: correct. there is no interaction between those. they don't necessarily need to be cut as part of tax reform. if republicans think that is something that has to be done than tax reform becomes harder. it's not necessarily the case that they need to....
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87
Feb 9, 2012
02/12
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CSPAN3
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tax. these two functions are not necessarily consistent and in some cases, may even be at odds. for publicly-traded companies focused on earnings per share, in addition to cash flows, changes in tax policy might not produce intended results if the effective tax policy on earnings per share is not well understood. as a recent tax notes article suggests, when presented with an option between targeting tax benefits and lower corporate rate, many publicly-traded companies might prefer a lower corporate rate over those tax benefits because of the book treatment. similarly, tax provisions that provide cash benefits might not have the desired affect on behavior. a variety of things can affect companies and their decision-making processes differently. the high u.s. corporate rate is a important factor for companies that use gaap or international accounting standards. if the rate is too high, companies will, all other factors being equal, allocate capital to a location providing more favorable tax
tax. these two functions are not necessarily consistent and in some cases, may even be at odds. for publicly-traded companies focused on earnings per share, in addition to cash flows, changes in tax policy might not produce intended results if the effective tax policy on earnings per share is not well understood. as a recent tax notes article suggests, when presented with an option between targeting tax benefits and lower corporate rate, many publicly-traded companies might prefer a lower...
SFGTV: San Francisco Government Television
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Apr 10, 2012
04/12
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SFGTV
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receipts tax. the payroll tax is a tax on the compensation that businesses pay to their employees. a gross receipts tax is a tax on essentially the revenues of businesses, the top line revenues of businesses. so unlike a payroll tax, it doesn't directly add to the cost of labor. it doesn't send a clear a signal not to add jobs or create jobs in san francisco. i should say that as we looked across the practices of local government finance and other cities in california, san francisco is the only city with a payroll tax as its form of business tax. about 35 of the top 50 largest cities in california use a gross receipts tax so it's a very common tax for cities in california. the key features of our gross receipts tax is, first of all, it is a revenue neutral proposal which is to say that it's designed to generate just the revenue that the payroll tax is currently generating, no more, no less. secondly, we are envisioning a phase-in period in which the gross receipts tax is phased in over a period of
receipts tax. the payroll tax is a tax on the compensation that businesses pay to their employees. a gross receipts tax is a tax on essentially the revenues of businesses, the top line revenues of businesses. so unlike a payroll tax, it doesn't directly add to the cost of labor. it doesn't send a clear a signal not to add jobs or create jobs in san francisco. i should say that as we looked across the practices of local government finance and other cities in california, san francisco is the only...
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22
May 16, 2017
05/17
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CSPAN2
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eye 22
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not just corporate income tax that all business tax. no business ever paid a tax. they collect tax picnic lacked on so what else and you want to know who pays the tax? we don't know. we estimate in aggregate ashes of the corporate income tax between capital and labor. that doesn't mean you know that you paid it. everybody in the shrim champagne business tax but your dog you how much. if you've ever save a dollar and put it in a 401(k) bought a stock, you paid corporate income tax. can you tell how much? you never will. in essence the corporate income tax, the reason it is so perfect for the nature of the government we have, we will all adults corporate income tax collects a fair amount of money with relatively modest expense into exhibit a lot of expense engines of economic effects. why do we like taxing businesses so much? because nobody knows who paid the tax. that's why one philosophical note for the day. >> other questions? i would build on that a little bit, transparency is very much in the between principle, norm. i think you're right about spin but i think t
not just corporate income tax that all business tax. no business ever paid a tax. they collect tax picnic lacked on so what else and you want to know who pays the tax? we don't know. we estimate in aggregate ashes of the corporate income tax between capital and labor. that doesn't mean you know that you paid it. everybody in the shrim champagne business tax but your dog you how much. if you've ever save a dollar and put it in a 401(k) bought a stock, you paid corporate income tax. can you tell...
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Apr 27, 2017
04/17
by
CSPAN
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eye 41
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the reduction of tax brackets from seven to three. of the alternative minimum tax and death tax. for businesses and corporations, the administration once a 15% tax rate. here is the announcement -- wamnts a 15% tax rate. here is from secretary steven mnuchin and gary cohen. >> i never thought so many people would turn out to be -- obviously today we're here to talk about the president's effort to provide tax relief to both our corporations that will help grow jobs and to middle americans two people here to explain it, the director of our national economic council, gary cohn, is going to walk through why we're doing what we're doing. and then the personal side of the tax. then secretary of the treasury, steven mnuchin, will walk through the business side and the corporate side of what the president is doing to bring jobs back to this country, to make our businesses more competitive, and help our economy grow. at the end, we will be glad to take questions on that. you are being provided a one-pager right now that provides the top level aspects of the plan. and then both the directo
the reduction of tax brackets from seven to three. of the alternative minimum tax and death tax. for businesses and corporations, the administration once a 15% tax rate. here is the announcement -- wamnts a 15% tax rate. here is from secretary steven mnuchin and gary cohen. >> i never thought so many people would turn out to be -- obviously today we're here to talk about the president's effort to provide tax relief to both our corporations that will help grow jobs and to middle americans...
14
14
Sep 20, 2017
09/17
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CSPAN3
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eye 14
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cash flow tax, or a carbon tax. finally, making business tax cuts retroactive to january 1st, 2017, would not promote growth. retroactive tax cuts would give a windfall to profitable businesses. that does little or nothing to encourage productive investment. indeed it could weaken growth by leaving less budget room for more pro-growth reforms. another down side is all the benefits would go to shareholders, not workers. thank you again. i look forward to your questions. >> thank you. thank you so much. okay. we'll go to the next one, mr. lewis. >> thank you for the opportunity to testify on behalf of the to testify on behalf of the aicpa. as the committee tackles this opportunity to enact bold pro-growth tax reform, we urge congress to take a holistic approach, to provide tax reform to all of america's businesses. fair and equitable tax reform will drive economic growth and enhance the competitiveness of all types of american businesses, not only in the u.s. but also abroad. the aicpa is a longtime advocate for an ef
cash flow tax, or a carbon tax. finally, making business tax cuts retroactive to january 1st, 2017, would not promote growth. retroactive tax cuts would give a windfall to profitable businesses. that does little or nothing to encourage productive investment. indeed it could weaken growth by leaving less budget room for more pro-growth reforms. another down side is all the benefits would go to shareholders, not workers. thank you again. i look forward to your questions. >> thank you. thank...
2
2.0
Aug 14, 2023
08/23
by
CSPAN3
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eye 2
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, a new layer of tax, a duplicative tax, more tax loopholes. the approach to taxation is ultimately a mess. and of course, once you have one group of lawyers write a tax law, you need another group of tax lawyers to figure it out and the cycle goes on. confusion just gets worse and worse over time and that level of confusion is something i'm going to come to in a moment, too. but let's go back to mellon. let's go back to his career as treasury secretary. and you've heard again that those were a time of turbulence and crisis, so many big new things that are important to us today were going on then. the u.s. had just experienced first european war, first land war anywhere. in fact, outside the north american continent, as bill beech noticed, we had just experienced a global pandemic of the spanish influenza with the 16th amendment to the constitution the u.s. just instituted probably for the first time, unfortunately, a permanent income tax, because the war federal taxation as a share of gdp had tripled from about 2% to 6%. so, you know, we've he
, a new layer of tax, a duplicative tax, more tax loopholes. the approach to taxation is ultimately a mess. and of course, once you have one group of lawyers write a tax law, you need another group of tax lawyers to figure it out and the cycle goes on. confusion just gets worse and worse over time and that level of confusion is something i'm going to come to in a moment, too. but let's go back to mellon. let's go back to his career as treasury secretary. and you've heard again that those were a...
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48
Dec 2, 2016
12/16
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CSPAN
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eye 48
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today we've got fair tax, flat tax, abc tax, we have provisions, smart ideas on tax reform. we have the same dynamic. third dynamic then we had a president willing to lead on tax reform. today we have a new president coming into ffice willing to lead on tax eform. those dynamics that existed for the '86 reforms have reoccurred again in a major way. this is a unique opportunity for us to do what most americans have given of hope ever will happen. it's a dramatic opportunity to leap frog america back in the most competitive place on the planet to create that new job. we are determined to deliver on that. thank you very much for having me here today. >> if our panel would like to join us here on the stage, we'll continue this discussion. nd i will turn the program over to my colleague david burton. when we are talking congress, i always want to call you dan burton for some reason. excuse me if i slip into that. david burton is our senior fellow in thomas a. rowe nstitute for economic policy studies and he will lead the rest of this discussion. david? >> it's my pleasure to intr
today we've got fair tax, flat tax, abc tax, we have provisions, smart ideas on tax reform. we have the same dynamic. third dynamic then we had a president willing to lead on tax reform. today we have a new president coming into ffice willing to lead on tax eform. those dynamics that existed for the '86 reforms have reoccurred again in a major way. this is a unique opportunity for us to do what most americans have given of hope ever will happen. it's a dramatic opportunity to leap frog america...
137
137
Apr 16, 2012
04/12
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CSPAN3
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eye 137
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tax. it's also a property of something else called the x tax recent a more progressive version of the flat tax. >> that doesn't sound to me like the buffett tax at all. except that in real life, i don't think warren buffett does pay any capital gains tax. fae, okay, we'll get back to that. steve forbes. >> well, that sounds like a flat tax single rate, generous exemptions for adults and for children. everything else is out of the code. on the business side, you have a loet 17% rate. instant depreciation. ie instant write-off. no tax on investments. whether it's interest, dividends, capital gains. and nom death taxes. you should be allowed to leave the world unmolested by the irs or as our founders would say, no taxation without respiration. sneex sounds like your plan for 1996 and 2000 and even before that, right? >> hey, keep at it, you know the? >> john taylor? >> to be a little different, i'm very concerned with this unpredictability of the tax code. the first thing we could do is put i
tax. it's also a property of something else called the x tax recent a more progressive version of the flat tax. >> that doesn't sound to me like the buffett tax at all. except that in real life, i don't think warren buffett does pay any capital gains tax. fae, okay, we'll get back to that. steve forbes. >> well, that sounds like a flat tax single rate, generous exemptions for adults and for children. everything else is out of the code. on the business side, you have a loet 17% rate....
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71
Apr 15, 2013
04/13
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FOXNEWS
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eye 71
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tax. people don't mind if you would see they don't have all the deductions and wiggle room and would be in the same position as everyone else. john: when you talk about the flat tax you talk about getting rid of deductions and just keep charity and mortgage interest deduction. >> everything else is gone. if you would design a system that would allow maximum corruption, maximum lobbying efforts and fund-raising in washington you created a system just like we have for it is so complex, we have got to fix it. it cannot keep going like this. >> that the complication is with the stupid deductions and exceptions of graduated progressive tax rate is not that complicated. >> the way the wealthy have not been fighting so hard against the progressive right is they have the loopholes and the wealthiest will stop fighting so hard if they have the same level playing field as everyone else and people would except that the leadership has not been willing to push it and i think it is a no-brainer we shoul
tax. people don't mind if you would see they don't have all the deductions and wiggle room and would be in the same position as everyone else. john: when you talk about the flat tax you talk about getting rid of deductions and just keep charity and mortgage interest deduction. >> everything else is gone. if you would design a system that would allow maximum corruption, maximum lobbying efforts and fund-raising in washington you created a system just like we have for it is so complex, we...
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105
Apr 15, 2013
04/13
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FOXNEWS
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eye 105
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. >> some want higher taxes. >> we are already taxed to death. (scream) >> that's hoour show tonight. frush >> and now john stossel. >> wendell holmes the former supreme court justice once said taxes are what we pay for a civilized society. liberals like siting that but holmes said that in 1927 when taxes were just 10 percent of gdp. that's enough to pay for a civilized society. but america's government has grown so far, so fast that it is now spending 40 percent of gdp. i think it's much too big, but i do want to pay my fair share, so what's that? what is fair? i now give most of my income to the government. poor people pay the smaller percent and lots of people say that is fair. i see their point. but texas congressman lewey gomer says it's not fair and america needs a flat tax. meaning congressmen what? >> it means when people hear the word fair share or fair, it ought to be flat tax. the only way to truly make things fair so if you are making more you pay more. you make less you pay less. make it a flat tax. the word fair ought to bring to mi
. >> some want higher taxes. >> we are already taxed to death. (scream) >> that's hoour show tonight. frush >> and now john stossel. >> wendell holmes the former supreme court justice once said taxes are what we pay for a civilized society. liberals like siting that but holmes said that in 1927 when taxes were just 10 percent of gdp. that's enough to pay for a civilized society. but america's government has grown so far, so fast that it is now spending 40 percent...
0
0.0
Sep 22, 2022
09/22
by
CSPAN3
tv
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tax state. however, in light of states expanded rights and sellers rights to new access. small businesses in particular face new responsibilities and challenges. the difference hundreds of threshold between states and localities can create a burdensome and complex system that can make business difficult for small businesses. sellers must now learn to comply with the myriad of checks -- tax jurisdictions where there consumers reside, or higher tax consultants. this can be time-consuming and expensive for small businesses who do not collect sales taxes but must remit sales taxes to other state. with the attempt to ease these burdens, a comprehensive solution to this problem remains evasive. the right of states to levy taxes and to empowerment into polities to do the same is well-founded founded on the principle of sin eight sovereignty. on the other hand -- on the principle of state sovereignty. on the other hand, there must be a balance struck between states collecting sales tax due and ensuring
tax state. however, in light of states expanded rights and sellers rights to new access. small businesses in particular face new responsibilities and challenges. the difference hundreds of threshold between states and localities can create a burdensome and complex system that can make business difficult for small businesses. sellers must now learn to comply with the myriad of checks -- tax jurisdictions where there consumers reside, or higher tax consultants. this can be time-consuming and...
0
0.0
Jan 14, 2023
01/23
by
CSPAN
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guest: the idea this fair tax idea that we should ship from an income tax to a sales tax is one of the stupider ideas that has been put forward. it is nonsense. the concern is that we tax people saving in investment too much. which is to, we want saving and investment to flow in the united states. we saw -- when you cut the corporate income tax from highest in the world. we had the highest corporate income tax under obama in the world. 35%. french -- france was at 25%. why do we have trouble competing with china, we were taking 35% of earnings of american companies and they were at 15%. we shoot ourselves in the food. that was brought down to 21%. the medium in -- the corporate income tax damages people's wages and you saw it when we cut the corporate income tax and wages shot up. we had their week -- the reaction to covid, which shut everything down. we have a lower corporate income tax, tony one -- 21%. we have a serious challenge now in that, the government is spending too much money. it is spending poorly. the irs is part of that. one of the things i try to walk through, they do no
guest: the idea this fair tax idea that we should ship from an income tax to a sales tax is one of the stupider ideas that has been put forward. it is nonsense. the concern is that we tax people saving in investment too much. which is to, we want saving and investment to flow in the united states. we saw -- when you cut the corporate income tax from highest in the world. we had the highest corporate income tax under obama in the world. 35%. french -- france was at 25%. why do we have trouble...
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if you if you have these tax cuts these bush tax cuts and tax cuts it doesn't necessarily mean they're going rich people are going to grow the economy doesn't necessarily mean they're going to invest in the economy it doesn't necessarily mean they're going to create jobs do you agree or disagree with that. as generally as i can i would agree with. you know the bush tax cuts of. income fire of all income brackets and so you may see more investment being spurred by the rich as a result for too earlier by some trickle down effect but the low income earners are also benefiting from these tax cuts which are set to expire and twenty thirteen in addition to that low income earners are also benefiting right now from a two percent reduction absolute two percent reduction from six point five to four point five percent on the payroll tax tax which directly goes towards social security and medicaid benefits and this tax it does by a greater proportion affect the wealth and income of low income earners. but at a time when we when we have a serious fiscal. crisis in the united states debt and defici
if you if you have these tax cuts these bush tax cuts and tax cuts it doesn't necessarily mean they're going rich people are going to grow the economy doesn't necessarily mean they're going to invest in the economy it doesn't necessarily mean they're going to create jobs do you agree or disagree with that. as generally as i can i would agree with. you know the bush tax cuts of. income fire of all income brackets and so you may see more investment being spurred by the rich as a result for too...
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49
Sep 28, 2017
09/17
by
CSPAN
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eye 49
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republican seen a tax framework. the tax plan appears to be a disguised tax cut for the wealthy. during our meeting with the ways and means committee, the president promised all of us that the rich will not benefit under his tax plan. it only took one day for speaker ryan and leader mcconnell to break that promise. they will create a huge loophole for the wealthy by lowering the rate to 25%. all of this is likely to award cuts to the very wealthy. >> we know the cost of the republican tax plan will be catastrophic for our budget. for the future of the working people in our country, it will explode the deficit. towill be a backdoor attempt devastate the bedrock initiatives like medicare and medicaid. it is a swindle of the american people, selling the same blueprint that the books tax cuts for the rich did -- that's the bush tax cuts for the rich did. critical domestic job creating investments, such as infrastructure and education and job training. nothing brings more money to the treasury than investing in education. higher education. post-grad. lifetime learning. if we want to r
republican seen a tax framework. the tax plan appears to be a disguised tax cut for the wealthy. during our meeting with the ways and means committee, the president promised all of us that the rich will not benefit under his tax plan. it only took one day for speaker ryan and leader mcconnell to break that promise. they will create a huge loophole for the wealthy by lowering the rate to 25%. all of this is likely to award cuts to the very wealthy. >> we know the cost of the republican tax...
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34
Nov 22, 2014
11/14
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CSPAN3
tv
eye 34
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, business taxes, local taxes, payroll taxes. not only do you pay all those taxes, and i can list more, but you have to administer the tax system. you have to withhold from employees. you have to deal with sales taxes for the states and localities if you do that. so small businesses are the only ones faced the full brunt of everything our tax system has to offer. i would like to point out that as much as our members hate paying taxes and think they pay too much in taxes, when you ask them what the biggest burden of the tax system is, they tell you it is the administration of the taxes. the complexity and the burden and the time that are required of them week in and week out to deal with the income tax and payroll tax system and the state tax system and the excise tax system that we have in the country today. you think about it from the current system we have, especially the income tax, but also the payroll tax. it diskour ran discourages entr virtually every level. most every entrepreneur, unless they sell tax shelters, see our s
, business taxes, local taxes, payroll taxes. not only do you pay all those taxes, and i can list more, but you have to administer the tax system. you have to withhold from employees. you have to deal with sales taxes for the states and localities if you do that. so small businesses are the only ones faced the full brunt of everything our tax system has to offer. i would like to point out that as much as our members hate paying taxes and think they pay too much in taxes, when you ask them what...
1
1.0
Mar 10, 2023
03/23
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BELARUSTV
tv
eye 1
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this is a 20% income tax. and the single tax simplified system was, by and large, a benefit for businesses of abusive masses with one clear goal of minimizing tax payments , they know this, so by and large. changes are overdue, well, or simply in full swing, this is the people's version of the ministry's forecast our business will no longer achieve for the sake of tax savings, creating a lot of individual entrepreneurs and will go into more organized forms, legal entities, as it should be in status and justice. lena fedorovna but if we look at our tax system as a whole. here are the macroeconomic functions it performs. well, in other words, why do we pay taxes. what state tasks are solved in this case? there are two taxes - regulatory and fiscal. but if you say it in such a way that it is probably understandable. and now the main function is to provide economic security of the state of its stability macroeconomic stability and taxes in this way. e form this airbag. give the opportunity to carry out all planned
this is a 20% income tax. and the single tax simplified system was, by and large, a benefit for businesses of abusive masses with one clear goal of minimizing tax payments , they know this, so by and large. changes are overdue, well, or simply in full swing, this is the people's version of the ministry's forecast our business will no longer achieve for the sake of tax savings, creating a lot of individual entrepreneurs and will go into more organized forms, legal entities, as it should be in...
43
43
Nov 6, 2017
11/17
by
CSPAN3
tv
eye 43
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with respect to income taxes and property taxes, income taxes and property taxes that are attributable to the production of income may still be deducted as expenses in arriving at that income. income taxes that would otherwise be deducted on present law schedule a the intent of the legislation is that that itemized deduction would be denied. >> so how much of it is going to be fully deductible? >> in the case of an individual such as myself there would be no itemized deduction for -- >> if you are like the basketball coach in kansas who decided that he is going to be a pass through entity -- >> he would be providing professional services and denied the benefit of the maximum rate of tax on pass through income of 25% and all of his income taxes would not be deductible. >> and would his -- the cost that he has for paying for professional help to look for new loopholes, would that be fully deductible? taxpayers are going to be limited. >> tax advice is also not deductible, sir, under hr 1. >> for individuals who recharacterize as small pass through? >> well, first of all, the individual w
with respect to income taxes and property taxes, income taxes and property taxes that are attributable to the production of income may still be deducted as expenses in arriving at that income. income taxes that would otherwise be deducted on present law schedule a the intent of the legislation is that that itemized deduction would be denied. >> so how much of it is going to be fully deductible? >> in the case of an individual such as myself there would be no itemized deduction for...
148
148
Mar 21, 2012
03/12
by
CSPAN3
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eye 148
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not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes, end quote. it's very rare for those of you who are out in the audience to see a politician make a statement that it's hard to walk back from. ordinarily when we make pledges, we do it in language that makes it easier for us to say we didn't mean what we said. no family making less than 250. not your income tax, payroll, capital gains, et cetera. unfortunately the president's going to have to start finding a way to walk back from that statement. if i could have the next slide, please. this is a list of at least 13 tax increases over the course of the president's administration on individuals making less than 200 or families making less than $250,000 here. there's more. we actually ran out of space on the slide so that we could do that. as much as i appreciate the ranking member's amendment, and tend to agree generally with the sentiment, there's a better way to do this. you could co-sponsor hr-4064 which i've offered. also it does is repeal all those tax increases. we figured we would do exactly
not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes, end quote. it's very rare for those of you who are out in the audience to see a politician make a statement that it's hard to walk back from. ordinarily when we make pledges, we do it in language that makes it easier for us to say we didn't mean what we said. no family making less than 250. not your income tax, payroll, capital gains, et cetera. unfortunately the president's going to have to start...
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24
May 23, 2021
05/21
by
FBC
tv
eye 24
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taxes, more taxes and tariffs. one surprising thing i learned is the deep relationship between federal taxation and booze. from the whiskey rebellion to moonshiners addition to the roaring 20s, alcohol and taxes are intertwined throughout our history. look at that, after the break. ♪♪ (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that. it's not some magical number. and it's not something we just achieve at the end. it's a feeling... of freedom to live our lives the way we intended. though the ups... ...the downs ...all of it. this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. this is lincoln financial. (vo) this is more than just a building. protect and retire. it's an ai-powered investment firm with billion-dollar views. a cutting-edge data-security enterprise. yes, w
taxes, more taxes and tariffs. one surprising thing i learned is the deep relationship between federal taxation and booze. from the whiskey rebellion to moonshiners addition to the roaring 20s, alcohol and taxes are intertwined throughout our history. look at that, after the break. ♪♪ (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the...
33
33
Apr 26, 2017
04/17
by
CSPAN
tv
eye 33
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not pay taxes. that is what i would like. host: sydni in mason, texas. republicans. cindy, lost cindy. we will go to paul in pennsylvania, line for democrats. caller: good morning. how are you doing? i think we had a progressive tax the 1940's, 1950's and 1960's and people grade the economy was so much better is in. and it seems like the republicans, all they want to do is give great benefits and more in more tax cuts to the wealthy under roosevelt and eisenhower, the tax rates for the top percentages was 90%. eisenhower was a republican. he wanted to build the interstate highways and decide and saidahn in germany if we had these in large cities we have to have the same system. you are not going to get it by cutting from the poor and meals on wheels and stuff. toward veryt's go independent. morning.ood thank you for c-span. i am glad you have the topic on it. i want to say that gentleman from pennsylvania was absolutely right. the economy is going to be terrible as long as we keep giving tax cuts to
not pay taxes. that is what i would like. host: sydni in mason, texas. republicans. cindy, lost cindy. we will go to paul in pennsylvania, line for democrats. caller: good morning. how are you doing? i think we had a progressive tax the 1940's, 1950's and 1960's and people grade the economy was so much better is in. and it seems like the republicans, all they want to do is give great benefits and more in more tax cuts to the wealthy under roosevelt and eisenhower, the tax rates for the top...
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31
Jun 6, 2019
06/19
by
CSPAN2
tv
eye 31
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the corporate income tax, sales tax, property tax paid by people. consequences that make companies say, we do not want to be in the united states, we want to be in belton, so they are losing jobs. it is worse for workers and consumers in a company that is able to stay and pay a little bit of tax. high, youat tax too lose businesses, jobs, innovation, and economic growth. that is a hidden tax on our future. the president has been trying to talk with mexicans, they have in the past police their their own -- policed border rather roughly, and if they did that on the southern border, it would solve some of the problems of people coming into the united states without authorization. this is one last effort to try and talk to the mexicans and get that fixed. mexicos helped is that is doing better economically than in the past, partially because of nafta, and that is when people are willing to stay home and live in mexico because there are jobs there. i wish them in the -- i wish them well and having a stronger economy as well. democratmaryland, line. good
the corporate income tax, sales tax, property tax paid by people. consequences that make companies say, we do not want to be in the united states, we want to be in belton, so they are losing jobs. it is worse for workers and consumers in a company that is able to stay and pay a little bit of tax. high, youat tax too lose businesses, jobs, innovation, and economic growth. that is a hidden tax on our future. the president has been trying to talk with mexicans, they have in the past police their...
0
0.0
Apr 23, 2023
04/23
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CSPAN3
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it was taxes. certainly when we think of the conditions in the united states, politically, economically, 1929, 1930, the very dawn of the great depression, we should recognize that only for 13 years of american history, for 17 years i'm sorry, in american history, at that point had the nation had an income tax, never had an income tax for any duration at all prior to 1913. so as new income tax in the united had always relied on the tariff to carry its revenue load, along with excise taxes like on alcohol. but then when they passed the biggest tariff in american history in 1930, the smoot-hawley, you had both the biggest tariff in american history, plus an income tax that at the top was taking 25% of income. this was a completely unprecedented governmental fiscal imprint, tax imprint on the american. so just naturally should expect that a great depression would have occurred then if you're a visitor from mars. just looking at, you know, what changed in terms of american taxation from 1789 to 1930, y
it was taxes. certainly when we think of the conditions in the united states, politically, economically, 1929, 1930, the very dawn of the great depression, we should recognize that only for 13 years of american history, for 17 years i'm sorry, in american history, at that point had the nation had an income tax, never had an income tax for any duration at all prior to 1913. so as new income tax in the united had always relied on the tariff to carry its revenue load, along with excise taxes like...
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30
Jul 20, 2017
07/17
by
CSPAN3
tv
eye 30
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liability, but they pay local and state taxes, sales taxes in places, and they're burdened by these taxes. so the earned income credits and child refundable tax credit is an important way to assist these families. refunds go to, you know, buying a car. it helps you go to work. or paying bills or doing very, very important things that generate economic activity in all of the communities across the country that many of the members of the committee represent. >> and in the final seconds, can you please tell me what would be the outcome of our tax code and doing a tax reform that gives the majority of the tax cut benefit to the very wealthy. what will that mean? >> thank you. i mentioned that the weather gap right now between latinos and non-latinos is 10 to 1 on the dollar. my worry is that that grows to 15 to 1, 20 to 1, with increasing incentives for those at the very top of the weather scale when we eliminate inheritance taxes, when we look at the past taxes, we're just giving those tax breaks to a very small number of very wealthy households getting very large tax cuts. my worry is those
liability, but they pay local and state taxes, sales taxes in places, and they're burdened by these taxes. so the earned income credits and child refundable tax credit is an important way to assist these families. refunds go to, you know, buying a car. it helps you go to work. or paying bills or doing very, very important things that generate economic activity in all of the communities across the country that many of the members of the committee represent. >> and in the final seconds, can...
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44
Jun 1, 2017
06/17
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CSPAN3
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eye 44
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our tax system with high tax rates and outdated international tax rules in a significant tax compliance burden we have the best chance in 30 years to advance significant tax reform and must take full advantage of this opportunity. it will enhance u.s. economic growth. since the last major reform in 1986, manufacturers in the u.s. have innovated. but the tax code is not. with a combined statutory tax rate that can top 39%, manufacturing in the united states face the highest corporate tax rate among oecd nations. this is a competitive problem. top rates for manufacturers organized passthrough entities can be higher and this hurts this investment opportunities. over the past three years emerson paid $1.8 billion annually in taxes worldwide. more than half of that was paid in the united states. at an average effective tax rate of approximately 32% and marginal 37%, emerson pays real taxes in the united states. a key shared by elmmerson top t rate of 15%. we must also lower tax rate for pass through entities including smaller companies in the u.s. manufacturing supply chain. lower rates will
our tax system with high tax rates and outdated international tax rules in a significant tax compliance burden we have the best chance in 30 years to advance significant tax reform and must take full advantage of this opportunity. it will enhance u.s. economic growth. since the last major reform in 1986, manufacturers in the u.s. have innovated. but the tax code is not. with a combined statutory tax rate that can top 39%, manufacturing in the united states face the highest corporate tax rate...
136
136
Jul 15, 2012
07/12
by
CNNW
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eye 136
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everyone wants lower taxes. but you can't have lower taxes. because for years and years, your federal government, both political parties, mismanaged the books and spent more money than they took in. our tax system is broken. half the country pays no income tax, and the rich pay as a percentage of their income less than the middle class does. we have a tax system that needs an entire overhaul and we've got a lot of interest to pay on the debt that we've accumulated. which is why, at least for the moment, you can't have a tax cut. but what president obama wants to do is extend a tax cut that you've actually been living with for about a decade. see, back during the final years of the clinton administration, the u.s. had a budget surplus. in the year 2000, the federal government took in $236 billion more than it spent. and the presidential election that year, then-texas governor george w. bush running against al gore pledged to give that money back to the taxpayers. >> we don't believe the surplus is the government's money. we know the surplus is
everyone wants lower taxes. but you can't have lower taxes. because for years and years, your federal government, both political parties, mismanaged the books and spent more money than they took in. our tax system is broken. half the country pays no income tax, and the rich pay as a percentage of their income less than the middle class does. we have a tax system that needs an entire overhaul and we've got a lot of interest to pay on the debt that we've accumulated. which is why, at least for...
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95
Apr 20, 2012
04/12
by
CSPAN3
tv
eye 95
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most of the tax gap is for the individual income tax but the corporate income tax and employment tax are also significant contributors. much is due to misreporting a business income, even for individual income tax but nonbusiness income also contributes. even for a certain category of taxpayer there is a variety of misreporting behavior. for example, on a recent report we founded sole proprietors misrepo misreport both their receipts and expense, while some of each is intentional as well as unintentional. income subject to with holding and/or information reporting to irs by third parties such as employers or banks has low misreporting. only about 1% of wage income with withholding is misreported. on the other hand, 56% of rent, royalty or sole proprietor income is misreported. there are opportunities to reduce the tax gap because because of the variety of noncompliance, multiple approaches will be needed. no single approach is likely to fully and cost effectively address the tax gap. opportunities include more third-party information reporting. third-party reports about a taxpayer's
most of the tax gap is for the individual income tax but the corporate income tax and employment tax are also significant contributors. much is due to misreporting a business income, even for individual income tax but nonbusiness income also contributes. even for a certain category of taxpayer there is a variety of misreporting behavior. for example, on a recent report we founded sole proprietors misrepo misreport both their receipts and expense, while some of each is intentional as well as...
0
0.0
Sep 21, 2022
09/22
by
CSPAN3
tv
eye 0
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tax. that is that the senator has been a leader on this issue, as well as montana senator daines. it's not just a burden and states without sales taxes. it's a burden for small businesses everywhere. let me repeat that, it's a burden for small businesses everywhere. sales taxes in america are very complicated. 45 states, hundreds of localities how different laws for sale taxes. they different tax, rates differentiations for who cooks them. they are different rules for taxation. they have definitions for taxable products. get this folks, an illinois you will pay sales tax on a twix bar there might not be a lot of confusion and yard purchase for projects gets taxed that's tax free. small businesses are on the hook for managing that complex level of laws. they all are essentially forced to hire consultants to get it all figured out. my view is that as long as wave ruling stands, congress wants to step in and get some concrete actual relief to the small businesses that are really hurting. now,
tax. that is that the senator has been a leader on this issue, as well as montana senator daines. it's not just a burden and states without sales taxes. it's a burden for small businesses everywhere. let me repeat that, it's a burden for small businesses everywhere. sales taxes in america are very complicated. 45 states, hundreds of localities how different laws for sale taxes. they different tax, rates differentiations for who cooks them. they are different rules for taxation. they have...
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Sep 27, 2017
09/17
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FBC
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eye 54
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liz: what is that effective tax rate? >> in port taxes alone. another 156+ million in things like harbor taxes and fees and pilots and other things. we pay a lot outside of income tax and in addition pay tens of millions in income tax, federal, state, local and so on and our employees pay. liz: of course, the united states is among the top three highest corporate tax rates on the planet. >> yes. liz: that's been blamed for a lot of companies leaving the u.s. to find lower tax rates. you are domiciled in panama. that goes back to before you were ceo. >> before anything. liz: panama, i checked, their rate is 20% corporate tax rate. that's what i saw. >> okay. liz: but if we go 20%, would you and other companies be lured back to the united states? >> i wouldn't say we never left the united states, we were never domiciled as a corporation, we are dual listed on the new york stock exchange, the global stock exchange, we are a global company. we were never domiciled. we didn't leave the u.s. or anything. liz: you have a base in doral, florida. >> yes,
liz: what is that effective tax rate? >> in port taxes alone. another 156+ million in things like harbor taxes and fees and pilots and other things. we pay a lot outside of income tax and in addition pay tens of millions in income tax, federal, state, local and so on and our employees pay. liz: of course, the united states is among the top three highest corporate tax rates on the planet. >> yes. liz: that's been blamed for a lot of companies leaving the u.s. to find lower tax rates....
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Aug 23, 2017
08/17
by
CSPAN2
tv
eye 26
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tax reform lasting tax reform history is not on the side to go alone. it is on the backs of the middle-class to the tune of 1.$3 million for a wealthy household the people i represent in southern california would receive roughly $0.70 per day i am sorry that that will not have -- help those families plan for retirement or take a vacation. salad makes one-third of the workforce as others across the country many have not even entered the child-care to become some of those largest burdens and challenges that they face one of those principles was the need to support working families and children also poverty. and address those and a meaningful way?. >> most effective anti-poverty program is the child tax credit refundable portion 20 million received credits knees are working families raising children so finding ways to with a population of hard-working raising families to have saved for retirement to live the american dream and the tax code can do that if we can find ways to do that with these elements they care is key there is the number of different ways.
tax reform lasting tax reform history is not on the side to go alone. it is on the backs of the middle-class to the tune of 1.$3 million for a wealthy household the people i represent in southern california would receive roughly $0.70 per day i am sorry that that will not have -- help those families plan for retirement or take a vacation. salad makes one-third of the workforce as others across the country many have not even entered the child-care to become some of those largest burdens and...
4
4.0
May 12, 2021
05/21
by
CSPAN2
tv
eye 4
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tax? >> thank you, senator wyden. i am uncertain whether or not we have made any criminal referrals to the department of justice. i will look into that and get back to you. but what i can say is officers are hard at work out in the field ensuring that high income non-filers, that we're aware of, are being brought into compliance and we're using all tools available to bring them into compliance. currently in this environment where it's very difficult to go out in the field but our revenue officers continue to perform that work. >> respectfully, mr. o'donnell, i don't understand how one can assert that all tools are being used when we're talking about high income filers, multiple years of unfiled returns, , an estimate of $7.1 billion in taxes in just two years, and you're not aware of whether there were any criminal referrals to the tax division of the department of justice. department of justice. what i would like you to do is to furnish to chairman white house and myself the chairman of t
tax? >> thank you, senator wyden. i am uncertain whether or not we have made any criminal referrals to the department of justice. i will look into that and get back to you. but what i can say is officers are hard at work out in the field ensuring that high income non-filers, that we're aware of, are being brought into compliance and we're using all tools available to bring them into compliance. currently in this environment where it's very difficult to go out in the field but our revenue...
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17
Jul 19, 2017
07/17
by
CSPAN2
tv
eye 17
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chairman. >> you've been in the tax business for many years, tax policy to tax consulting and compliance. you've worked with congress and the administration's, tax practitioners, academics and other taxpayers. what is it you would like to achieve under this tax policy at the treasury department and how in your years of experience and interaction with all facets of the tax committee prepared you to do so? >> mr. chairman, one of the things i've learned over the years that sent the taxes to impact decision-making on businesses and individuals having an internal revenue code that is fair and simple should be a high priority and having a globally competitive tax is important for american businesses. if confirmed, i would focus on increasing economic growth through the tax code, creating good paying jobs, middle-income tax cuts and simplicity. what are some of the important things congress can do to help americans save their hard earned time and of course their hard earned money as well by con playing with this overly complex tax code >> i think a broad-based witch means eliminating certain t
chairman. >> you've been in the tax business for many years, tax policy to tax consulting and compliance. you've worked with congress and the administration's, tax practitioners, academics and other taxpayers. what is it you would like to achieve under this tax policy at the treasury department and how in your years of experience and interaction with all facets of the tax committee prepared you to do so? >> mr. chairman, one of the things i've learned over the years that sent the...
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23
May 26, 2017
05/17
by
CSPAN2
tv
eye 23
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new tax loophole in my reason for asking the question especially because you cannot enforce the tax laws on the books now but the current budget proposal asks for even deeper cuts how do expect to the american people to believe you can prevent the fuel from exploiting this new loophole when you cannot even stop the current tax cheats?. >> senator that is a very good question and first let me assure you i have said repeatedly the other day at we are absolutely committed to make sure that the pass-through small and medium-sized businesses have the benefit of the business right. it isn't just something for a corporation they are the engine of growth in this economy and we will make sure they're rich people cannot use this as a loophole where they should be paying 35 percent taxes on wages but they pay 15 percent instead. i assure you that will be in the code with very clear ways to enforce that. >> respectfully and don't think that cuts it. i don't think you believe you can absolutely make it happen and you are absolutely sure it will go for the little guy of small business. but the ta
new tax loophole in my reason for asking the question especially because you cannot enforce the tax laws on the books now but the current budget proposal asks for even deeper cuts how do expect to the american people to believe you can prevent the fuel from exploiting this new loophole when you cannot even stop the current tax cheats?. >> senator that is a very good question and first let me assure you i have said repeatedly the other day at we are absolutely committed to make sure that...
25
25
Jun 6, 2019
06/19
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CSPAN3
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eye 25
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, general taxes, sales taxes, personal income tax to create higher brackets in personal income tax, it is just not done very often. so without putting a particular partisan spin on that, that's not been what states choose to do when they set up their revenue structures whether it is good or bad. it's not something that is expected and it is not something that has happened. so you started in the introduction talking about looking for other revenue sources. that is something that states do if they need to find more revenues the first place they are not looking to do is raise their sales tax or income taxes unless there is really a punctuation happening such as a supreme court decision declaring your k-12 system unconstitutional, which has happened across the country in several places. it was the last time my state in kentucky raised income and sales taxes because the supreme court said that. it is just not the rule. whether there is an opportunity there or not is true, but it's not the way that states have chosen to set themselves up. >> except we have seen some. i guess i would be more
, general taxes, sales taxes, personal income tax to create higher brackets in personal income tax, it is just not done very often. so without putting a particular partisan spin on that, that's not been what states choose to do when they set up their revenue structures whether it is good or bad. it's not something that is expected and it is not something that has happened. so you started in the introduction talking about looking for other revenue sources. that is something that states do if...
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41
Mar 3, 2017
03/17
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CSPAN3
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and -- >> the editor of the tax policy center's blog, tax walks. and i'll be the host, moderator for this panel. our format will be very simple, we're just going to have a discussion, informal discussion here about when we heard so far this morning. and then we'll leave some time for questions for you all. let me just briefly introduce the panelists. you know them all, i'm sure. to my immediate left is rosanne altshuler, professor of economics at rutgers and former director of tax policy center. always great to have her back. john buckley, tax counsel with the house ways and means committee. pam olson is the u.s. deputy tax leader at pricewaterhousecoopers. and former assistant secretary for tax policy at treasury. and alan viard, resident scholar at the american enterprise institute. i should also mention that rosanne many years ago was one of the authors of the get, which was a predecessor to the destination-based cash flow tax. so we can perhaps talk a little bit about that as well. i wanted to start actually by asking rosanne about an alternati
and -- >> the editor of the tax policy center's blog, tax walks. and i'll be the host, moderator for this panel. our format will be very simple, we're just going to have a discussion, informal discussion here about when we heard so far this morning. and then we'll leave some time for questions for you all. let me just briefly introduce the panelists. you know them all, i'm sure. to my immediate left is rosanne altshuler, professor of economics at rutgers and former director of tax policy...
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28
Nov 30, 2017
11/17
by
CSPAN
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eye 28
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you're not taxed. host: you're taxed on capital gains. caller: but not on -- when your family inherits -- basically when you die, a company that starts off and makes more and more profit, you're not taxed on that. and it's not good for the company because we're going to be borrowing money when the interest rates go up, we'll be owned by china. host: let's hear from tom from ohio. the democrats line. tom, go ahead. caller: these are the same companies that took all of our jobs overseas for cheap labor and you think if you give them a tax break they're going to bring those jobs back over here and pay more for labor? taxing you on -- taking away the deduction for state taxes, that's paying taxes on money you've already paid taxes on, and that's what they're saying they want to get rid of the debt penalty for. these people are going to stick the money in your pocket, you're wanting to bring the money they made from overseas back home and not pay taxes on it. and they're not going to make any jobs, there aren't any jobs to make. they'll stick
you're not taxed. host: you're taxed on capital gains. caller: but not on -- when your family inherits -- basically when you die, a company that starts off and makes more and more profit, you're not taxed on that. and it's not good for the company because we're going to be borrowing money when the interest rates go up, we'll be owned by china. host: let's hear from tom from ohio. the democrats line. tom, go ahead. caller: these are the same companies that took all of our jobs overseas for cheap...
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31
Dec 16, 2017
12/17
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CSPAN
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eye 31
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in the house bill are the tax on the sick, are the tax on taxes are the child tax credit, whether that will be in the conference report or not? there was a time when the battle cry of republicans was, read the bill. well, they've solved that problem today by not giving us any bill to read and making it clear they don't intend to give us any bill to read before this conference committee is ended. indeed, i think anyone who has watched the operations of this committee this afternoon, they can see the type of government that i believe donald trump envisions for much more than this conference committee. one person is the ruler and the and the other are the ruled. one person can say no amendments, one person can say, no consideration of any witness to explain the provisions of the bill and so what we will is have here after this trampling of democracy is that some time on friday a bill that has been developed with the washington special interest in secret, in various places across this capital, it will be presented and while i'm clearly upset that i and my colleagues will not have an opport
in the house bill are the tax on the sick, are the tax on taxes are the child tax credit, whether that will be in the conference report or not? there was a time when the battle cry of republicans was, read the bill. well, they've solved that problem today by not giving us any bill to read and making it clear they don't intend to give us any bill to read before this conference committee is ended. indeed, i think anyone who has watched the operations of this committee this afternoon, they can see...
90
90
Nov 10, 2017
11/17
by
CSPAN
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eye 90
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tax rate. ost of the big -- i've worked for a big company, i cannot say who i worked for, we pay 0% at year.nd of the we get back $2 million after everything. people in the middle class, ike me, when we lose our mortgage tax credit, we lose our interest on our student loans for my son and my niece and nephew, we lose that, we don't gain any money we lose everything that we get from these tax cuts, things that we get. i wish, like victor and the they us caller, would please stop lying to the people. getsaverage big corporation 14% or lower. i am an accountant and i know this. sady, you might be interested in the "new york piece, bigs analysis windfalls likely to skip the middle class and ben castleman much is rd report this clear, either version of the bill, talking about the house epublican and house senate bills, would be bad for residents of high tax, sade there, high-cost states, high-tax, high-cost states, both bills would eliminate deduction for state and local sales tax, not a big in low-
tax rate. ost of the big -- i've worked for a big company, i cannot say who i worked for, we pay 0% at year.nd of the we get back $2 million after everything. people in the middle class, ike me, when we lose our mortgage tax credit, we lose our interest on our student loans for my son and my niece and nephew, we lose that, we don't gain any money we lose everything that we get from these tax cuts, things that we get. i wish, like victor and the they us caller, would please stop lying to the...
53
53
Sep 14, 2018
09/18
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CSPAN2
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eye 53
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business tax cuts from the tax cuts and jobs ax. this is only fair. it will give american families, workers in mainstream small businesses certainty and fueled economic growth we've witnessed over the past year. the team is middle-class and mall cuts will create increased the economy over 2% on top of what we are already seeing an increase paychecks again on top of what were already enjoying. that's on top of the 1.7 million new jobs we party scene created. the second part of tax law to plano, the savings act of 2018 led by congressman mike kelly would help families save more and save earlier throughout their lives by expanding access to new and existing savings vehicles. this will help families and individuals save for their future where their retirement, education or health care. so to make sure as they see their paychecks increase in the economy improve that they are keeping more of their hard-earned money and planning for the future. in addition, promoting the family savings act will help local businesses provide retirement plan
business tax cuts from the tax cuts and jobs ax. this is only fair. it will give american families, workers in mainstream small businesses certainty and fueled economic growth we've witnessed over the past year. the team is middle-class and mall cuts will create increased the economy over 2% on top of what we are already seeing an increase paychecks again on top of what were already enjoying. that's on top of the 1.7 million new jobs we party scene created. the second part of tax law to plano,...
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49
Apr 26, 2017
04/17
by
FOXNEWSW
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eye 49
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we are going to cut taxes and simplify the tax codes by taking the current seven tax brackets we have to date and reducing them to only three brackets. 10% bracket, 25% bracket, 35% bracket. we are going to double the standard deduction. so that a married couple won't pay any taxes on the first $24,000 of income they earn. so in essence, we are creating 80 tax rate. yes, a zero tax rate for the first $24,000 that a couple earns. the larger standard deduction also leads to simplification because far fewer taxpayers will need to itemize which means they are tax form can go back, yes, to that one page, the one simple page i talked about earlier. families in this country will also benefit from tax relief to help them with child and dependent care expenses. we are going to repeal the alternative minimum tax. the amt creates significant complications and burdens which require tax payers to do their taxes twice to see which is higher. that makes no sense, and we should have one simple tax code. as we all know, job creation and economic growth is the top priority of the administration. nothin
we are going to cut taxes and simplify the tax codes by taking the current seven tax brackets we have to date and reducing them to only three brackets. 10% bracket, 25% bracket, 35% bracket. we are going to double the standard deduction. so that a married couple won't pay any taxes on the first $24,000 of income they earn. so in essence, we are creating 80 tax rate. yes, a zero tax rate for the first $24,000 that a couple earns. the larger standard deduction also leads to simplification because...
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19
Sep 28, 2017
09/17
by
CSPAN
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eye 19
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-- will be tax-free. and a married couple won't pay a dime in taxes on their first $24,000 of income. a married couple, up to $24,000, can spend their money on their family, their children, what they have to do. words, more income for more people will be taxed at a rate of zero. [applause] >> at the 0% rate, taxable income will be subject to just three tax rates of 12%, 25%, and 35%. jonathan blanton and his wife, jamie, from green town, are here with us today. where are they echo hello, jonathan. jonathan does industrial janitorial work and jamie works at an auto company. together, they are raising four beautiful children. year, they earned less than $90,000. under our tax plan, they would have saved more than $1000 and it could be substantially more. that's just on federal taxes. they would have saved at least $1000. middle income families will save even more money with an increased child tax credit for children under the age of 17 which so many families have been calling for. [applause] >> we will elim
-- will be tax-free. and a married couple won't pay a dime in taxes on their first $24,000 of income. a married couple, up to $24,000, can spend their money on their family, their children, what they have to do. words, more income for more people will be taxed at a rate of zero. [applause] >> at the 0% rate, taxable income will be subject to just three tax rates of 12%, 25%, and 35%. jonathan blanton and his wife, jamie, from green town, are here with us today. where are they echo hello,...
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taxed. more of newly lee presented. rich germans used switzerland as a hub to avoid high sack sation and inflation. soon. the amount of equity managed by swiss banks was equivalent to the german debt, which in the early 19 thirties was the largest in the world by allowing such huge sums to be hidden away in swiss volts. these countries were betraying the principle of tax equality. the little people had no choice but to obey the rules, while the wealthy felt entitled to evade them. less and less money found its way into state coffers, and resentment grew among the middle france. then in 1929, the stock market crashed. following the wall street trash, europe was left really the great depression plunged millions into unemployment. western nations devalued their currencies as a form of debt relief. once again, it was the people who picked up the tab in france, a policy to reduce the public deficit, increased unemployment hurting the middle class. this social crisis was followed by a political on
taxed. more of newly lee presented. rich germans used switzerland as a hub to avoid high sack sation and inflation. soon. the amount of equity managed by swiss banks was equivalent to the german debt, which in the early 19 thirties was the largest in the world by allowing such huge sums to be hidden away in swiss volts. these countries were betraying the principle of tax equality. the little people had no choice but to obey the rules, while the wealthy felt entitled to evade them. less and less...
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13
Sep 20, 2014
09/14
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KCSM
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eye 13
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taxes. here's what president obama said recently about that practice, known as inversion. >> now, here's the problem is this loophole they're using in our tax laws is actually legal. it's so simple and so lucrative, one corporate attorney said it's almost like the holy grail of tax avoidance schemes. my attitude is i don't care if it's legal, it's wrong. >> now look at this recent headline in "the new york times." reluctantly, patriot flees homeland for greener tax pastures. it's about a u.s. generic drug company incorporating in the netherlands. reluctantly, my eye. skipping out on america means more profits for the company and bigger bonuses for the ceo. tax-dodging is big business, which has one of our world's most noted economists plenty angry -- nobel laureate joseph stiglitz. he's president of the international economic association and served as chairman of the white house council of economic advisers back in the '90s. his best-selling books have shaped worldwide debate. and now he's w
taxes. here's what president obama said recently about that practice, known as inversion. >> now, here's the problem is this loophole they're using in our tax laws is actually legal. it's so simple and so lucrative, one corporate attorney said it's almost like the holy grail of tax avoidance schemes. my attitude is i don't care if it's legal, it's wrong. >> now look at this recent headline in "the new york times." reluctantly, patriot flees homeland for greener tax...
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Feb 4, 2017
02/17
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tax. can i get a chair for that? no, you don't cheer for that. i asked the wrong question. >> [laughter] >> the 16th amendment is simple. it is just 30 words. congress shall have the power to collect taxes on incomes among the several states without regard to the census or enumeration. it is amazing to think what has come about from those simple 30 words. from those words we have the highest corporate income tax rate in the developed world. from those 30 words we have a tax system that puts made america products at a tax disadvantage in the united states and around the world. we have a tax code that favors foreign products over u.s. products and chases american jobs in manufacturing and research overseas. from the 30 words we have a tax code so complicated that according to the tax foundation of american businesses and families, they spend more than a combined 6 billion hours and $30 billion to file their taxes. from those 30 words we can all understand what will rogers meant when he said
tax. can i get a chair for that? no, you don't cheer for that. i asked the wrong question. >> [laughter] >> the 16th amendment is simple. it is just 30 words. congress shall have the power to collect taxes on incomes among the several states without regard to the census or enumeration. it is amazing to think what has come about from those simple 30 words. from those words we have the highest corporate income tax rate in the developed world. from those 30 words we have a tax system...
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Dec 2, 2016
12/16
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CSPAN2
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the tax reform with lower individual tax rate. one thing we shouldn't do we shouldn't raise tax rates. it's one of the highest in the industrialized world and increases the lower tax countries taking the jobs, and tax dollars with them. while it's not going to solve all the problems one of the biggest we have is lowering the tax rate on the corporate side and individual. there are so many incentives we have right now for the businesses and jobs overseas. it's important the income be taxed once and only once and there is concern that they pay a lower tax rate than those with ordinary income but this fails to reflect the tax o at the corporate level and individual level. we will get into that specifically. luckily policymakers find the principles and goals as the key to a successful revenue system. the successful revenue system should include the following it should be simple. i know it's hard to understand that with a complex code it makes it difficult and costly to comply with and scam. they should make it as simple and transparen
the tax reform with lower individual tax rate. one thing we shouldn't do we shouldn't raise tax rates. it's one of the highest in the industrialized world and increases the lower tax countries taking the jobs, and tax dollars with them. while it's not going to solve all the problems one of the biggest we have is lowering the tax rate on the corporate side and individual. there are so many incentives we have right now for the businesses and jobs overseas. it's important the income be taxed once...
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151
Apr 20, 2012
04/12
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CSPAN3
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with the tax laws. we all have to share the burden and do more and let us work to reform our tax code in a way that will help us collect more of the taxes that are owed. but not paid. and let us continue our work to make the tax code more fair and simple. in order to do that, we must work together. i thank our witnesses today, inspector general miller, for while, mr. olson, mr. george, i think all of you for being here and i look forward to the testimony with great anticipation. we need to make certain that people are protected and that is our obligation to and responsibility to do it and i think they're working to the we can do a lot better than what we're doing. this is not a committee here to blame you and you blame us. this is a committee to come up with some solutions. thank you so much, mr. chairman. >> thank the gentleman and would echo your final comment there as well that we're about working with you and all to solve problems, not to play gotcha and all the more we appreciate our witnesses bein
with the tax laws. we all have to share the burden and do more and let us work to reform our tax code in a way that will help us collect more of the taxes that are owed. but not paid. and let us continue our work to make the tax code more fair and simple. in order to do that, we must work together. i thank our witnesses today, inspector general miller, for while, mr. olson, mr. george, i think all of you for being here and i look forward to the testimony with great anticipation. we need to make...